Midday Fly By: UPS, PayPal, Coca-Cola report Q2 beats
The major averages were higher near noon, with the Dow was up over 500 points, as investors brace for a pivotal stretch of earnings and the start of the Federal Reserve's two-day policy meeting, with renewed concerns over artificial intelligence spending and rising competition from Chinese chipmakers weighing heavily on technology shares. The Federal Reserve begins its July policy meeting today, with markets focused less on the expected interest rate decision and more on guidance from Fed Chair Kevin Warsh following Wednesday's announcement. Meanwhile, oil prices continue to retreat as diplomatic efforts to preserve the ceasefire between the United States and Iran ease concerns over disruptions through the Strait of Hormuz. The decline in crude has helped temper inflation worries, although it has done little to offset the broader weakness in technology shares. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: UPS (UPS) provided a "beat and raise" report for Q2 Boeing (BA) reported downbeat Q2 core earnings per share, with the company saying its total company backlog is $715B, including over 6,200 aircraft PayPal (PYPL).
The major averages were higher near noon, with the Dow was up over 500 points, as investors brace for a pivotal stretch of earnings and the start of the Federal Reserve's two-day policy meeting, with renewed concerns over artificial intelligence spending and rising competition from Chinese chipmakers weighing heavily on technology shares.
The Federal Reserve begins its July policy meeting today, with markets focused less on the expected interest rate decision and more on guidance from Fed Chair Kevin Warsh following Wednesday's announcement.
Meanwhile, oil prices continue to retreat as diplomatic efforts to preserve the ceasefire between the United States and Iran ease concerns over disruptions through the Strait of Hormuz.
The decline in crude has helped temper inflation worries, although it has done little to offset the broader weakness in technology shares.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1.
STOCK NEWS: UPS (UPS) provided a "beat and raise" report for Q2 Boeing (BA) reported downbeat Q2 core earnings per share, with the company saying its total company backlog is $715B, including over 6,200 aircraft PayPal (PYPL).